"Venezuela legislature approves mining law in initial vote", 09 March 2026

...Venezuela's ruling ‌party-controlled National Assembly on Monday approved a mining law expected to open the sector to private and foreign investment, the latest salvo in a package of U.S.-backed changes to the still-sanctioned country's economy.

The administration of U.S. President Donald Trump has supported ​a series of moves by Acting President Delcy Rodriguez to attract investors and stabilize the country...

A draft of the law seen by Reuters but not yet made public ​repeals a 1999 mining regulation law, allows foreign and domestic companies to exploit gold, diamonds and rare earths ​and increases concessions from 20 years to 30 years.

Though mineral deposits remain the property of the state, disputes will be resolved through international arbitration, according to the draft, which also creates new tax calculations for mining projects...